NPS Calculator - National Pension Scheme Calculator |Motilal Oswal

NPS Calculator


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            How can a NPS Calculator help you?

            Determine stabilized returns for a good life with NPS Calculator.

            Know what your needs for retirement are
            Determine your corpus for retirement
            Choose NPS and amounts you wish to invest to retire with confidence

            An NPS calculator is useful to determine your assured returns to help you plan investment.

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            Returns are assured with a fixed interest rate.


            NPS Calculator FAQs

            1. What is an NPS Calculator?

            The NPS (National Pension Scheme) calculator is an online digital tool to compute how much to invest in this scheme and know returns you will get from your investment. It enables you to plan your future finances in terms of your investment in a pension fund. Figures that you obtain may not be precise, but you get a good idea of how much to invest, and plan your financial future accordingly.

            2. Who can use the NPS Calculator?

            Any individual who has reached 18 years of age and has not yet reached the age of 60 is eligible to apply for the national pension scheme. Consequently, people within this age category can use it to find out how much they can invest for their future corpus.

            3. How can an NPS calculator help you?

            There are crucial ways in which an NPS calculator may help you:

            • You get to know how much of a corpus you may need for your retirement.
            • It gives you a disciplined means of investment with 40% mandatorily invested in annuities, and the rest of the invested sum liable for tax, which you get to be aware of.
            • The NPS calculator is quite accurate and you get a fast, automated method to determine your finances.
            • It is possible for you to discover the regime of taxation with regard to pension funds, as well as the full amount you can collect from your scheme.

            4. How to use the NPS calculator?

            You can use the NPS calculator by following the key steps appearing below:

            • Enter your monthly amount of investment in the required field.
            • Fill in your present age in the required box.
            • There is a slider that you can easily navigate for the expected return rate.
            • Results will be shown to you instantly.

            5. What are the advantages of using an NPS calculator?

            The advantages of NPS calculator use are the following:

            • Manual calculations are prevented. You get precise results that are dependable.
            • If you can accurately determine your amount of pension, you can plan and organise your future finances.
            • Online calculations are made easily and time is saved.

            6. What is the current interest rate of NPS?

            The interest rate of the National Pension Scheme, presently, stands at a range from 9% to 12% (as of February 2020). This is based on the details of the subscriber and the scheme.

            7. What is the minimum contribution for Tier I and Tier II NPS subscribers?

            For Tier I NPS subscribers, the minimum amount of contribution is Rs.500 at a single time, and Rs. 1,000 in any financial year. For Tier II subscribers of the same scheme, it is Rs. 250 at a single time with no minimum balance requirement.

            8. What are the tax benefits under NPS?

            According to the Section 80 CCD (1) of the Indian Income Tax Act, people subscribing to the NPS, or National Pension Scheme, are eligible for benefits with regard to tax. This amount goes to 10% of the subscriber’s gross income up to Rs. 1.50 lakh. Additionally, Tier 1 subscribers of NPS can avail more tax benefits within Section 80 CCD (1B). These benefits include deductions that go to Rs. 50, 000 in investments under NPS

            9. Is there any maximum contribution that must be made in a year?

            There is no maximum contribution that must be made in a year.

            10. What happens to the accumulated corpus if the subscriber dies before the age of 60?

            In case this occurs, the legal heir or the nominee of the NPS subscriber gets 100% of the collected corpus. Furthermore, there will not be a purchase of any monthly or annuity pension.

            11. Is there any limit to the number of nominations that can be made in an account?

            The number of nominations that can be made in an NPS account is a maximum of 3.

            12. When the subscriber reaches the age of 60, can the entire amount be withdrawn?

            When the subscriber reaches 60 years of age, 60% of the total amount in the NPS account is the maximum that is allowed for withdrawal. However, an investor can choose to be invested in the account till 70 years of age. The 40% remaining in the account is annuitized at the close of the year of contribution. An option to annuitize the full corpus can also be exercised.

            13. Is there any minimum number of contributions that should be made in a year?

            There is a minimum amount of contributions that should be made in a year, and this amounts to one contribution.